Mark Smith: ASB senior economist estimates Kiwi households will need to find an extra $70 per week to cover living costs in 2024 - Heather du Plessis-Allan Drive

Kiwi households will had to find an extra $70 per week to cover their living costs, according to ASB economists.

It's a smaller increase than the $115 a week lift in 2023- and and is expected to be below the increase in incomes.

ASB senior economist Mark Smith says these estimates are influenced by several key factors.

"Living costs really reflect what's happening with inflation, that's probably the key factor there. Also things like debt servicing have gone up significantly."

LISTEN ABOVE

See omnystudio.com/listener for privacy information.